Accuray Incorporated Named as Technology Pioneer 2008 by the World Economic Forum
SUNNYVALE, Calif., Nov. 29 /PRNewswire-FirstCall/ -- Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today that the World Economic Forum has selected Accuray as a Technology Pioneers for 2008.
Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. To be selected as a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership, show all the signs of being a long-standing market leader -- and its technology must be proven.
As one of this year's Technology Pioneers in the Biotechnology/Health category, Accuray is changing the way cancer is treated by bringing to market innovative technologies that offer non-invasive treatment alternatives for patients around the world.
"We are honored that an organization as prestigious as the World Economic Forum has acknowledged Accuray and the CyberKnife System as pioneers in cancer care," said Euan S. Thomson, Ph.D., president and chief executive officer of Accuray Incorporated. "It is our hope that this award brings greater visibility to the expanding role of CyberKnife radiosurgery and its efficacy in treating tumors anywhere in the body non-invasively."
The Technology Pioneers 2008 were nominated by the world's leading technology experts, including venture capitalists, technology companies, academics and media. The final selection from 273 nominees was made by a panel of leading technology experts appointed by the World Economic Forum. Technology Pioneers 2008 are invited to participate in the World Economic Forum Annual Meeting 2008 that will be held in Davos, Switzerland, from January 23-27, 2008 and in the Annual Meeting of the New Champions that will be held in Tianjin, People's Republic of China from September 25-27, 2008.
"This year the World Economic Forum received a record number of applications from companies around the world to become a Technology Pioneer. From a highly competitive field, we are extremely pleased to have a community that is using innovation and technology to dramatically affect the way society and business operate and doing so in a markedly collaborative manner. We are excited to welcome the Technology Pioneers class of 2008 to the larger community of the World Economic Forum and we are looking forward to the fruits that their collaboration will bring," said Peter Torreele, managing director of the World Economic Forum.
Of the 39 companies selected, twenty-three of the Technology Pioneers 2008 are U.S.-based companies. Israel and the United Kingdom each boast three; Sweden and Switzerland two each; Canada, France, Germany, India, the Netherlands and Russia, one each. Technology Pioneers are nominated in three main categories: Energy/Environment, Biotechnology/Health and Information Technology.
The selection criteria, as stated by the World Economic Forum, include:
1) Innovation. The company's technology must be truly innovative. A new
version or repackaging of an already well-accepted technological
solution does not qualify as an innovation. The innovation should be
recent -- not more than two years old. The company should invest
significantly in R&D.
2) Potential Impact. The company's technology must have the potential to
have a substantial long-term impact on business and society in the
future.
3) Growth and Sustainability. The company should have all the signs of
being a long-term market leader and should have well-formulated plans
for future development and growth.
4) Proof of Concept. The company must have a product on the market or have
proven practical applications of the technology. Companies in "stealth"
mode and companies with untested ideas or models will not qualify.
5) Leadership. The company must have visionary leadership that plays a
critical role in driving the company towards reaching its goals.
6) Status. The company must not currently be a Member of the World
Economic Forum. This criterion applies to the parent company -- thus
wholly-owned subsidiaries of large firms are not eligible.
About the World Economic Forum
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.
Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (http://www.weforum.org)
About the CyberKnife(R) Robotic Radiosurgery System
The CyberKnife Robotic Radiosurgery System is the world's only robotic radiosurgery system designed to treat tumors anywhere in the body non-invasively. Using continual image guidance technology and computer controlled robotic mobility, the CyberKnife System automatically tracks, detects and corrects for tumor and patient movement in real-time throughout the treatment. This enables the CyberKnife System to deliver high-dose radiation with pinpoint precision, which minimizes damage to surrounding healthy tissue and eliminates the need for invasive head or body stabilization frames.
About Accuray
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is a global leader in the field of radiosurgery dedicated to providing an improved quality of life and a non-surgical treatment option for those diagnosed with cancer. Accuray develops and markets the CyberKnife Robotic Radiosurgery System, which extends the benefits of radiosurgery to include extracranial tumors, including those in the spine, lung, prostate, liver and pancreas. To date, the CyberKnife System has been used to treat more than 40,000 patients worldwide and currently more than 100 systems have been installed in leading hospitals in the Americas, Europe and Asia. For more information, please visit http://www.accuray.com.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release, clinical studies, regulatory review and approval, and commercialization of products are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Important factors that could cause actual performance and results to differ materially from the forward-looking statements we make include: market acceptance of products; competing products, the combination of our products with complementary technology; and other risks detailed from time to time under the heading "Risk Factors" in our report on Form 10-Q for the quarterly period ended September 29, 2007 and may be updated from time to time by our other filings with the Securities and Exchange Commission. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. We assume no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws.
SOURCE Accuray Incorporated
11/29/2007
CONTACT: Stephanie Tomei, Public Relations Manager of Accuray
Incorporated, +1-408-789-4234, stomei@accuray.com; or Susan Lehman of
Rockpoint Public Relations, +1-510-832-6006, susan@rockpointpr.com, for
Accuray
Web site: http://www.accuray.com